INLAND EMPIRE--There is one silver lining to the region’s housing meltdown.
Housing affordability has risen to its highest point in eight-years. Prices have come down so far that about half of all Inland Empire households can afford a mortgage with the required property taxes and insurance. That compares to just 18 percent of households three-years ago.

The California Association of Realtors based their affordability quotient on a $256,000 average-priced home with 10 percent down for a 30-year, fixed-rate mortgage.

Foreclosed homes may provide the best deals for buyers right now.

Story Date: November 7, 2008